Inland Drydocks: Location, Location, Location
A recent dry dock rehab project in Chicago provides new options and money saving opportunities for inland and Great Lakes stakeholders alike.From software to steel plating, Indiana-based TPG Marine Enterprises provides a range of services in the Great Lakes and inland waterways markets. River based tug and barge services are based in Jeffersonville and Mt. Vernon, IN, on the Ohio River, as well as on Kentucky’s Green River.
Meyer Turku Investing Profits in its Shipyard
Coming off of three straight profitable years, Finnish shipbuilder Meyer Turku said it is using its profits to finance a 200 million euro ($237 million) investment program at its Turku shipyard.The cruise ship builder reported its 2017 revenue was 807.7 million euros ($959 million) compared to 2016’s 787.5 million euros ($935 million). Net profit for the financial year rose from 26.2 million euros…
#BTC100 History
In 2017, Bouchard Transportation Co. announced its construction plans for ATB unit M/V Evening Breeze and B. No. 252, which is the sister to ATB unit M/V Evening Star & B. No. 250. These Jones Act vessels will include the newest modifications to the Intercon and pin system, and the most technologically advanced equipment in various spaces that are designed to reduce total emissions. Expected delivery is during the early part of 2019.
Rolls-Royce, Siem Offshore Ink 5-Year Maintenance Deal
Rolls-Royce said it has signed a long-term service agreement with offshore vessel owner Siem Offshore for the maintenance of its deck machinery installations aboard 12 anchor handling vessels.The five-year Maintenance Inspection Program (MIP) is the formalization of a cooperation agreement between the two companies following the delivery of 10 new AHTS vessels in 2010, and two additional AHTS vessels that Siem Offshore took over ship management of in 2017.Jon August Houge…
Damen's Boer Secures WISTA Post
Damen’s Head of Communications, Sylvia Boer, has recently been appointed President of the Netherlands chapter of WISTA – the Women’s International Shipping and Trading Association. WISTA the Netherlands was founded in 2000 and currently has 140 members from across the maritime industry. WISTA the Netherlands focuses on a number of priority topics affecting the industry. Amongst these are sustainability…
Diana Containerships: Q1 Revenue More Than Doubles
Diana Containerships announces its Q1 revenue has more than doubled.Dry bulk shipper's shares jump 64 pct to $2.70, top advancer across U.S.
Maritime Training: Simulators are the Standard -MarTID Report
When it comes to training bridge officers, simulator training is the standard, with over 86 percent of companies using simulators for this purpose, according to the Maritime Training Insights Database (MarTID) 2018 Training Practices Report.The MarTID report found that a smaller proportion, around 60 percent total, use simulators for training engineering officers.Investment into simulation training will only increase in years to come.
Egypt Approves Oil Exploration Deal with Eni, Tharwa
Egypt has approved an exploration agreement with Italy's Eni and the Egyptian Tharwa company to search for oil and gas in the Mediterranean off the coast of northern Sinai, the Egyptian oil minister said on Wednesday.Under the deal, Eni and Tharwa will spend $105 million in two stages over six years, which involve drilling one well in the first stage and another in the second, Tarek El Molla told journalists.Reporting by Momen Saeed Atallah, writing by Sami Aboudi
Norway Launches New Licensing Round in Mature Offshore Areas
Norway will hold a new licensing round for its offshore oil and gas fields in already opened areas, further expanding the exploration acreage available to energy firms, the oil ministry said on Wednesday.Areas in the North Sea, the Norwegian Sea and the Barents Sea will be offered to oil companies, who have until September to submit their applications. The ministry plans to award licenses at the beginning of 2019…
Buyers Seek US Waivers to Buy Iranian Oil amid New Sanctions
South Korea said on Wednesday it would seek U.S. exemptions to buy Iranian oil, a path many big oil consumers are likely to follow in the wake of new U.S. sanctions on Tehran, which will tighten world oil markets and push up prices.Iran is the third-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC) and a key supplier, especially to refiners in Asia.The United States…
Apply Now for the MN 100
Each year the August edition of Marine News magazine, the leading voice in the North American workboat market, features the very best 100 leaders and innovators, including workboat owners and operators, builders, OEMs and repairers, and product and service providers.This year's MN100 edition application portal is live and open. Participation is free, but to be considered you must apply at http://mn100.maritimemagazine.com/.
Sanctions spell the end of OPEC output deal
President Donald Trump’s decision to withdraw from the nuclear agreement with Iran marks the end of the current output agreement between OPEC and its allies.OPEC is likely to insist the current agreement remains in effect, at least for now, but the prospective removal of several hundred thousand barrels per day of Iranian exports from the market will require a major adjustment.Saudi Arabia has already promised to "mitigate" the impact of any potential supply shortages…
Dry Bulk: Baltic Index Touches over 4.5 Month High
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday to its highest in over 4-1/2 months, boosted by rising rates for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 33 points, or 2.3 percent, at 1,465 points.The capesize index rose 134 points, or 5.4 percent, to 2,616 points, its highest in four months."Capesize rates continued to demonstrate positive momentu
Maersk Likely to Shelve Plans to List Drilling Division
Shipping group A.P. Moller-Maersk is likely to shelve plans to list its struggling offshore drilling division because of weak market conditions, according to five finance sources familiar with the matter.The Danish company is now expected to focus on a trade sale of Maersk Drilling, and extend the timeline to divest the unit beyond its initial target of the end of 2018, said the sources who declined…
Polsteam, Nova Ship Tech SA Select Alfa Laval PureBallast 3
Alfa Laval said it has signed fleet agreements with Polsteam and Nova Ship Tech SA for the supply of PureBallast 3, the third generation of Alfa Laval’s ballast water treatment technology.Under the agreements, Alfa Laval will provide dozens of Polsteam and Nova Ship Tech SA vessels with PureBallast 3 systems – the vast majority of which will handle large flows of more than 1,000 m3/h.The agreements…
New Global Ocean Institute Inaugurated
International Maritime Organization (IMO) Secretary-General Kitack Lim attended the inauguration of the new maritime and ocean policy research institute at the World…
Euroseas Spins Off Its Drybulk Fleet
Greece-based owner of containerships and bulk carriers Euroseas has spun off its drybulk fleet into a separate company. The Company announced that it filed a registration…
SMT Shipping, CSL Rolls out Joint Venture
SMT Shipping and The CSL Group announced they have entered into an agreement for CSL to acquire 50% of Eureka Shipping, SMT's pneumatic cement vessel business.
Digitisation Helps APM Terminals Pipavav
With more than 500 trucks per day passing through the gates at APM Terminals Pipavav, even the smallest efficiency improvement quickly adds up to 100s of hours saved per day.
MOL to Open New Maritime Academy in Philippines
Mitsui O.S.K. Lines announced that the establishment of MOL Magsaysay Maritime Academy in Salitran, Dasmariñas City, the Philippines — a joint project with Magsaysay…
